Ceres Power (LON:CWR) Stock Price Passes Below 200-Day Moving Average - Should You Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 202.06 ($2.63) and traded as low as GBX 173.60 ($2.26). Ceres Power shares last traded at GBX 182.50 ($2.38), with a volume of 1,038,223 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 650 ($8.46) price objective on shares of Ceres Power in a report on Tuesday, August 6th.

Ceres Power Stock Performance

The stock has a 50-day moving average of GBX 219.46 and a 200 day moving average of GBX 201.93. The firm has a market capitalization of £334.86 million, a P/E ratio of -871.22 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Insider Buying and Selling

In related news, insider Stuart Paynter acquired 7,365 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of GBX 270 ($3.51) per share, with a total value of £19,885.50 ($25,885.84). Corporate insiders own 40.29% of the company's stock.

Ceres Power Company Profile

Ceres Power Holdings plc engages in the development and commercialization of fuel cell and electrochemical technology in Europe, Asia, North America, and internationally. The company's technology includes Ceres Power, a solid oxide fuel cell technology used for distributed power generation, commercial power, and marine and motive power sectors; and Ceres Hydrogen, a solid oxide electrolyser cell SOEC technology to produce green hydrogen.